2006 Ford Fusion Sel on 2040-cars

Auto blog

VW, Rivian, Nissan, BMW, Genesis, Audi and Volvo lose EV tax credits starting tomorrow

The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. The Treasury said the new requirements effective Tuesday will also cut by half credits for the Tesla Model 3 Standard Range Rear Wheel Drive to $3,750 but other Tesla models will retain the full $7,500 credit. Vehicles losing credits Tuesday are the BMW 330e, BMW X5 xDrive45e, Genesis Electrified GV70, Nissan Leaf , Rivian R1S and R1T, Volkswagen ID.4 as well as the plug-in hybrid electric Audi Q5 TFSI e Quattro and plug-in hybrid (PHEV) electric Volvo S60. The Swedish carmaker is 82%-owned by China’s Zhejiang Geely Holding Group. The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and are part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs or PHEVs. Hyundai said in a statement it was committed to its long-range EV plans and that it "will utilize key provisions in the Inflation Reduction Act to accelerate the transition to electrification." Rivian declined to comment and the other automakers could not immediately be reached for comment. Treasury also disclosed General Motors electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury said all GM EVs will qualify. Earlier, Ford Motor and Chrysler-parent Stellantis said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury confirmed the automakers' calculations. The rules were announced last month and mandated by Congress in August as part of the $430 billion Inflation Reduction Act (IRA). The IRA requires 50% of the value of battery components be produced or assembled in North America to qualify for $3,750, and 40% of the value of critical minerals sourced from the United States or a free trade partner for a $3,750 credit. The law required vehicles to be assembled in North America to qualify for any tax credits, which in August eliminated nearly 70% of eligible models and on Jan. 1 new price caps and limits on buyers income took effect.

Ford will put solid axles under the Bronco as the off-roading gods intended

We've been wondering what sort of creature the Bronco would be since we first heard of the thing last October, when a union chairman spilled the beans on the SUV and the Ranger pickup. Ford confirmed a 2020 arrival date for the Bronco at the 2017 Detroit Auto Show, but at that point pretty much all we were sure of was that the Ranger and Bronco would be returning. The open question would be how hungry Ford was to spoil the Jeep Wrangler's solo party as a compact(ish) off-roader with dual solid axles, since the easiest thing would be to carry over the suspension design of the presumably related international Ford Ranger and its Everest SUV version: independent front suspension with either a leaf- (Ranger) or coil-suspended (Everest) solid rear axle. Enter Dana, the long-time supplier of Jeep stick axles, to confirm that the 2020 Bronco is getting a pair of them. That means solid axles front and rear, just like under a Wrangler. So reports Automotive News, citing an investor presentation from Dana. All signs so far, such as the report that the Bronco would be engineered by the same team in Australia that created the Ranger pickup, indicated that the Bronco would share a platform with the Ranger and thus be body-on-frame. The solid axle confirmation essentially confirms that theory. Some off-road-capable vehicles have paired solid axles with unibody frames, like the Jeep Cherokee (XJ generation) and Grand Cherokee (ZJ and WJ generations), but they are outliers. Generally, if you've got solid axles at both ends, they're going in a vehicle with a ladder frame. It also lends credence to the notion that our Bronco won't simply be an imported Everest, which might be too understated to stand out from lesser crossovers anyways. This is good news if you have Blue Oval in your blood and pine for a modern SUV that'll show up the Jeep guys on the trail. Less directly, it could mean a wholesale assault on the formula that makes Jeeps successful in the first place: the massive aftermarket of off-roading equipment and dress-up bits that appeal to Jeep buyers almost as much as a Trail Rated badge. At a minimum, Bronco enthusiasts can breathe easy that the reborn SUV won't merely be a light-duty crossover with styling "inspired" by true off-roaders. There's still a lot left to learn about the Bronco. Keep up to date with our running summary of everything we know about the returning off-roader.

Ford CEO Jim Hackett reviewing the future of technology, Lincoln, overseas markets

By Paul Lienert and Joseph White Ford Chief Executive Jim Hackett is reviewing the automaker's operations in India and other markets, as well as Ford's future product programs including plans to build a self-driving commercial vehicle in 2021. Hackett, who took over as CEO in May, has told investors he is working on a 100-day review of Ford's operations but has so far provided few details of the process, except to indicate that it is looking at the automakers' luxury vehicle strategy, the future of its small vehicles and investments in emerging markets. Ford Chief Financial Officer Bob Shanks told Reuters in an interview that the review covers a range of issues, including Ford's strategy for India. "We have a lot of work to do (as) we address issues of how to fix India," Shanks said. "Everything is on the table." General Motors in May said it would stop selling cars in India but continue to produce vehicles there for export. Shanks said no decisions have been made and noted that Ford has a larger business in India than GM did. "We are very cognizant that will be the third-largest market in the world," he said. "Some big decisions will be made," Shanks said, but he cautioned Ford may not disclose all those decisions at the end of the 100-day review. Hackett is addressing challenges that have contributed to a nearly 8 percent decline in Ford's share price this year. The review of the Lincoln luxury brand includes whether current plans will meet former CEO Mark Fields' ambitious targets for growth and revenue, people familiar with the process said. Ford has set a target of putting a self-driving shuttle into commercial ride-sharing fleets by 2021. Hackett is reviewing the investment and timing for that project, the sources said. Hackett also assessing whether to reduce and consolidate production of models such as the Fiesta subcompact and two midsized sedans that are built in multiple locations around the world, but are experiencing slowing demand. One proposal would shift production of the next-generation Mondeo midsized sedan from Europe to Mexico, where it would share an assembly line with its sibling, the Ford Fusion, avoiding the cost of retooling two plants. Shortly after he took charge, Hackett approved a proposal to shift production of the next-generation Focus for North America from Mexico to China, saving the company an estimated $500 million by consolidating two factories into one.